Thursday May 5, 2016
Economic Calendar & Watch Lists 5/5/2016
Morning Notes
US Futures are moving higher this morning along with European stocks after a jump in crude oil on the Canadian oil field inferno. Asian markets closed mostly lower with Korea and Japan closed for a holiday.
Technicals
The SPY traded and closed back below the most recent support pivot of $205.25 in yesterday’s session. Support will lie at the low of yesterday’s range at $204.42, followed by the 50 day SMA at $204.02, and then $203.70. Resistance will lie at the the critical resistance pivot at $205.25, followed by the high of yesterday’s range at $205.85, $206.80, and the next critical resistance pivot at $207.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
$BABA
$LB
$TSLA
Economic Calendar
8:30 Weekly initial unemployment claims expected +3,000 to 260,000
8:30 USDA weekly Export Sales
11:50 St. Louis Fed President James Bullard speaks
Notable Earnings Before Open
BABA: Alibaba – EPS Est. $.38, Rev Est. $23.12B
REGN: Regeneron – EPS Est. $1.24, Rev Est. $1.18B
FAST: Fastenal – EPS Est. $.48, Rev Est. $1.02B
DISCA: Discovery Communications – EPS Est. $.44, Rev Est. $1.56B
K: Kellogg – EPS Est. $.93, Rev Est. $3.47B
MRK: Merck – EPS Est. $.85, Rev Est. $9.47B
Notable Earnings After Close
ATVI: Activision Blizzard – EPS Est. $.12, Rev Est. $811.92M
ENDP: Endo International – EPS Est. $1.05, Rev Est. $956.8M
WYNN: Wynn Resorts – EPS Est. $.83, Rev Est. $999.07M
